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Daily Newsletter-Agri Commodity 24/05/2012

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MARKET WRAP Pepper declines sharply on profit booking and low export demand. Chana prices recovered on fresh buying and low supply. RM Seed declines nearly 2% on ample supply in spot market.

Cardamom prices recovered sharply on shortage on stock. Prices advances nearly 3%. Jeera traded in a mixed trend. It opened gap down then bounced back from its support near 12800 and closed flat at 12982. A bearish trend is expected below 12750. Soya bean continued its downtrend, prices declines nearly 3.1%.

COMMODITY

P. CLOSE

LAST CLOSE

NET CHANGE

% CHANGE

CARDAMOM

1,282.00

1,321.00

39.00

3.04

CHANA

4,154.00

4,135.00

-19.00

-0.46

GUR

1,135.00

1,125.00

-10.00

-0.88

JEERA

12,995.00

13,017.00

22.00

0.17

MENTHA OIL

1,398.00

1,342.00

-56.00

-4.01

PEPPER

40,390.00

38,780.00

-1,610.00

-3.99

POTATO

1,082.00

1,078.00

-4.00

-0.37

RM SEED

3,736.00

3,657.00

-79.00

-2.11

SOYABEAN

3,369.00

3,265.00

-104.00

-3.09

TURMERIC

3,934.00

3,914.00

-20.00

-0.51

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TECHNICAL VIEW CARDAMOM (JUNE) Trend

•Consolidate • Buy on dips

Strategy Resistance Support

• R2 - 1342 • R1 - 1328 • S1 - 1314 • S2 - 1300

CHANA (JUNE) Trend Strategy Resistance

• R2 - 4240 • R1 - 4170

Support

• S1 - 4100 • S2 - 4030

GUR (JUNE) Trend

• Bullish • Buy on dips

Strategy

• Consolidate • Buy on dips

POTATO (JUNE) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 1146 • R1 - 1132

Resistance

• R2 - 1099 • R1 - 1085

Support

• S1 - 1118 • S2 - 1104

Support

• S1 - 1071 • S2 - 1057

JEERA (JUNE) Trend

Strategy

• Bearish • Sell on high

MENTHA OIL (MAY) Trend

Strategy

• Consolidate • Sell on high

Resistance

• R2 - 13467 • R1 - 13167

Resistance

• R2 - 1381 • R1 - 1355

Support

• S1 - 12867 • S2 - 12567

Support

• S1 - 1329 • S2 - 1303

PEPPER (JUNE) Trend Strategy

• Consolidate • Sell on high

RM SEED (JUNE) Trend Strategy

• Consolidate •Sell on high

Resistance

• R2 - 39810 • R1 - 39110

Resistance

• R2 - 3767 • R1 - 3692

Support

• S1 - 38450 • S2 - 37750

Support

• S1 - 3622 • S2 - 3547

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SOYABEAN (JUNE) Trend Strategy

• Consolidate • Buy on dips

TURMERIC (JUNE) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 3340 •R1 - 3290

Resistance

• R2 - 4064 • R1 - 3964

Support

• S1 - 3240 • S2 - 3190

Support

• S1 - 3864 • S2 - 3764

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